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Executive Benefits

Executive benefits plans allow you to create custom benefits packages for your executive or high level employees. Some employees in a higher tier of income may be held back by qualified plans and, therefore, fail to cache enough retirement savings to maintain their lifestyles in retirement. Because of the limitations of some qualified plans, many business owners look to non qualified plans and executive benefits packages to offer a specific group of employees a more versatile and comprehensive package, tailored to their needs.

For example, disability group policies designed to provide basic coverage to the average wage earner but that are inadequate in providing enough income to support a highly compensated employee. By making an individual disability insurance (IDI) policy available as an executive benefit, employers would have a valuable tool for recruiting and retaining key employees while providing protection in the event of a disability.

These types of plans can be difficult to structure and implement due to the many tax codes and plan rules that executive benefits typically involve. The professionals at Grace & Porta have the necessary experience and expertise to craft an executive benefits package that will cover all of your executive and high tier employee needs while avoiding unwanted penalties or violations.

To learn more about the benefits of implementing executive benefits plans, contact us today.